This week’s big economic and commercial news has highlighted the increasing importance of China to Western Australia’s future prosperity, and the relative decline of the US.
Market research firm East & Partners has revealed a growing trend for Australian businesses to use third party finance brokers and mortgage originators when they are obtaining finance products.
Despite its residential interests failing to deliver strong results, NSW-based property developer Australand Property Group has recorded an operating profit after tax of $163.2 million, an increase of 5 per cent on the previous period.
Profit results lodged by a range of Western Australian companies this week indicate that it takes more than a resources boom for some companies to fire.
A Takeovers Panel review has rejected an appeal from Falak Holding LLC, over the panel's decision not to overturn the Dubai-based company's accidental sale of its stake in Golden West Resources Ltd to hostile suitor Faistar Resources Ltd.
Coal companies in Western Australia are reporting upbeat results for testing of their deposits for gasification, a process which better uses the energy within the fossil fuel.
West Perth-based industrial company Schaffer Corporation Ltd has announced a net profit after tax of $5.8 million for the first half of the 2008 financial year, 11 per cent higher than the $5.2 million profit posted in the corresponding period last year.
Windimurra Vanadium Ltd has raised $54.8 million to fund development of its namesake project in Western Australia's Mid West, following the closure of its heavily oversubscribed entitlement issue.
Gold and base metals explorer, Augustus Minerals Ltd, has made a lacklustre debut on the Australian stock market today, with its shares opening at 40 cents each or 20 per cent down on their offer price of 50 cents.
Mineral exploration and energy technology company, Wasabi Energy Ltd, has raised $3.2 million through the sale of 4 million shares in Aviva Corporation Ltd at 80 cents each.
Desperate FMG hits road; RBA cash rate may hit 8% to curb inflation; Rural revival feeds boom economy; Rio eyes $2.6b windfall if Asian mills stump up; More time please, urges Foster's chief
Nickel miner Mincor Resources NL has announced a $31.3 million net profit after tax for the six months to December 2007, 16 per cent down on its $37.1 million profit for last year's corresponding period.
Earthmoving and mining equipment supplier, Emeco Holdings Ltd, has reported a net profit after tax of $30.5 million for the six months to December 2007, down 12.4 per cent on the corresponding period last year.
Osborne Park-based internet kiosk developer, pieNETWORKS Ltd, is hoping to raise a total of $1.5 million through the placement of 83 million new shares at 18 cents each to private investors.
Shares in Applecross-based uranium explorer Power Resources Ltd made a strong debut on the Australian Securities Exchange today, opening at 27 cents or more than 25 per cent up on their offer price.
Palandri in rescue mission as financing arm collapses; ANZ exposure sends shivers through banks; Clearance query may stall Pluto; Rio 'underwhelmed' by Vale's iron ore deal; RCR pins hopes on small clients
Shares in besieged takeover target Golden West Resources Ltd continued their downward spiral today, following the shock resignation late Friday of the company's chairman Geoff Wedlock and managing director Gary Hutchinson.
Litigation funding provider IMF (Australia) Ltd has reported a net profit of $3.3 million for the six months to December 2007, representing a 65 per cent rise over the corresponding period last year.
Perth-based Galaxy Resources Ltd has raised $1.79 million via the early staged exercise of unlisted options, to fund the completion of a feasibility study on its Mt Cattlin tenement in Ravensthorpe.
Welshpool-based engineering company RCR Tomlinson Ltd has posted a net profit of $9.13 million for the half year ending December 2007, up 10.7 per cent on the corresponding period in 2006.
Nomad Building Solutions Ltd has revealed a 45.7 per cent increase in net profit after tax to $10.4 million for the half-year to December 2007, on the previous corresponding period.
Belmont-based mineral sampling equipment manufacturer, Essa Australia Ltd, has posted a record net profit after tax of $1.9 million for the six months to December 2007, an increase of 23 per cent over the same period in 2006.
Preliminary data by the Real Estate Institute of Western Australia suggests Perth's housing market was flat-lining in the December Quarter of 2007, with no movement either up or down for the last three months of last year.
Michael Kiernan-chaired companies Monarch Gold Mining Company Ltd and Territory Resources Ltd have raised $10 million and $9.3 million, respectively, from share placements.
West Australian Newspapers Holdings Ltd has joined a string of blue chip listed companies to be hammered by investors after reporting its result, with WAN shares down 10 per cent after announcing a $44.2 million interim net profit.
Leighton price off as market goes away; Rio fails to railroad FMG; ASX defends role as regulator while business booms; AMP defers buyback as net profit falls short of forecasts; Revealed: Why Allco is on the rack
Golden West Resources Ltd has lodged an appeal against the Takeover Panel's decision to uphold Falak Holding's accidental sale of an 8 per cent Golden West stake into hostile suitor Fairstar Resources Ltd's scrip bid.
The consumer watchdog has launched legal action in Brisbane's Federal Court against Wesfarmers Kleenheat Gas Pty Ltd, alleging misleading or deceptive conduct over the pricing of bulk LPG supplied under contract.
Subiaco-based Paladin Energy Ltd has secured US$167 million ($185 million) in project finance for the remaining funding component of its Kayelekera Uranium Project in Malawi.
Finbar Group Ltd has received development approval for its seven-storey mixed office and residential development in Victoria Park, and is close to signing an anchor tenant.
